No, the picture is not proof of a special Halo lightsaber that's unlocked for players logging their millionth hour. The effect is actually just a rocket getting fired at Master Chief's hand. Sorry.
But still, it's like if you had a picture of Angelina Jolie making out with Scarlett Johansson. Your brain knows it's too good to be true, but you're gonna save the memory all the same for a lonely night when you might need it.
Halo 3 gamers + too much time = recorded madness [gamesradar]